Statement by the Press Secretary
Passage of Important Anti-Money Laundering Legislation in the Philippines

The United States warmly welcomes the Republic of the Philippines enactment
today of a law to strengthen protection against money
laundering. This law will be an important tool in the war against
terror, preventing criminals and terrorists access to the international
financial system. In a world in which terrorism and criminality are so
closely linked, strong anti-money laundering regimes are more important
now than ever before. We congratulate President Gloria
Macapagal-Arroyo and the leadership of the Philippine legislature on
this advance in the Government's program to reform the economy, fight
against crime and corruption, and stamp out terrorism.